A recent Okta report reveals that executives are convinced of the positive impact of artificial intelligence (AI) on business. However, many recognize the associated risks and vulnerabilities for their organizations. The AI at Work 2024 report, which surveyed executives across industries, regions, and company sizes, found that 89% of executives view the impact of AI as positive or very positive. This sentiment is particularly high in EMEA, where 39% of respondents said they had a very positive view of AI.
Despite the general optimism, the survey highlighted a lack of AI knowledge among leadership teams. While 43% of C-suite executives describe their understanding of AI as intermediate and 37% as advanced, only 14% consider themselves AI experts. CTOs are the most confident in their AI capabilities, with 51% expressing strong confidence in their decision-making abilities regarding AI.
The report also found that executives believe their employees are more knowledgeable about AI-related security threats, with 67% describing their employees as very or somewhat knowledgeable about these risks. However, privacy and security remain key concerns for executives when it comes to AI implementation. Data privacy was identified as a top concern by 74% of respondents, followed closely by security risks (71%).
The level of concern about AI’s impact on organizational security varies among executives. Only 11% expressed extreme concern about AI’s potential impact on security, 28% described themselves as moderately concerned, and 34% were only slightly concerned. Just over half of respondents (54%) believe their organization is somewhat prepared to defend against AI-driven attacks, while 17% feel unprepared.
Ben Goodman, SVP and GM of Okta APJ, commented on the report: “AI is the biggest technological shift of our generation, bringing significant benefits but also significant risks. AI has expanded the threat surface, and one of the biggest threats from AI today is credential compromise. Producing emails, text messages, and videos that look authentic and make it very difficult for people to determine if they are legitimate.”
Goodman also noted the gap between executive concerns and actual threats: “With 11% of executives saying they are extremely concerned about the potential impact of AI on their organization’s security, there is a clear disconnect between executive concern about AI’s impact on security and the threats organizations actually face.”
Addressing the issue of compromised credentials, Goodman highlighted Okta’s efforts: “Okta stops more than 2 billion cyberattacks each month, up from 600 million per month a year ago. And with 86% of data breaches being caused by stolen credentials, having the right security in place helps protect users. Identity is the foundation of a modern security strategy. Adopting modern identity technologies, such as phishing-resistant multi-factor authentication and passwordlessness, is the most effective step organizations can take to protect their employees and customers.”
Goodman explained the benefits of passwordless systems: “Passwordless prevents people from being accidentally compromised by having their passwords stolen. It links, for example, the device you use to control of their identity.”
Key findings from the report include widespread optimism about AI, with 89% of executives viewing its impact as positive or very positive. A balanced outlook was found, with 46% of executives expressing equal parts concern and excitement about AI’s growing role in everyday life. Data privacy (74%) and security risks (71%) emerged as the top concerns regarding AI implementation.
The importance of identity and access management (IAM) was also highlighted, with 79% of respondents considering it critical to AI adoption and integration. Proper identity management ensures that the right people have access to the right resources at the right time, mitigating security risks associated with AI.
